32 N San Mateo Street, Redlands, CA 92373

• 3,990 sqft

Property Description

eXp is pleased to present the opportunity to acquire 32 N San Mateo Street, a 5-unit value-add multifamily asset located in the highly desirable South Redlands submarket of the Inland Empire.Built in 1963, the property consists of (4) 2-bedroom / 1.5-bath units and (1) 1-bedroom / 1-bath unit totaling approximately 3,990 square feet on a spacious 14,600 square foot lot. The asset is offered at $1,350,000, representing $270,000 per unit and $338/SF, providing an attractive basis relative to recent comparable sales. At stabilized rents, the property is projected to achieve approximately $10,625/month in gross income and a 6.16% market cap rate.Recent capital improvements completed between 20222024 include upgrades to the driveway, exterior stairs, deck, pool filter, and laundry room electrical. The property also features on-site laundry (owned machines), a swimming pool, and ample parking, minimizing near-term capital expenditures while supporting tenant retention and rent growth.Strategically located near Interstate 10 and 215 freeways, the property benefits from strong connectivity to major Inland Empire employment hubs. It is minutes from Ontario International Airport, University of Redlands, and Loma Linda University Medical Centerkey demand drivers for workforce housing.With s

Listing Status:

Active

Date Added:

March 26, 2026

Data Last Updated:

April 6, 2026 at 5:08AM

Listing Office:

Exp Commercial of California, Inc. :

Listing Agent:

Tyler Brand : 661-886-1226

MLS ID:

CL26669797

Interior

• Appliances: Dryer
• Laundry: DryerWasher
• Heating: Wall Furnace

Exterior

• Parking: Other

Location

• County: San Bernardino

Lot

• Zoning: 0171402400000